Diageo plc (NYSE:DEO) Sees Large Drop in Short Interest

Diageo plc (NYSE:DEO) was the target of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 638,200 shares, a decrease of 15.9% from the February 28th total of 759,300 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average trading volume of 1,080,000 shares, the days-to-cover ratio is currently 0.6 days.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on DEO shares. Deutsche Bank Aktiengesellschaft raised shares of Diageo from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. Jefferies Financial Group upgraded Diageo from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. Berenberg Bank started coverage on Diageo in a report on Wednesday. They set a “buy” rating for the company. UBS Group upgraded Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. Finally, TD Cowen lifted their target price on Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $129.00.

Diageo Stock Up 2.0 %

Shares of DEO stock traded up $2.13 during mid-day trading on Wednesday, hitting $106.64. The stock had a trading volume of 1,191,537 shares, compared to its average volume of 889,951. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.67. The firm’s 50-day moving average is $110.97 and its two-hundred day moving average is $121.45. The firm has a market capitalization of $59.32 billion, a P/E ratio of 15.57, a price-to-earnings-growth ratio of 2.39 and a beta of 0.65. Diageo has a 12-month low of $103.70 and a 12-month high of $148.38.

Diageo Dividend Announcement

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, April 24th. Stockholders of record on Friday, February 28th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a dividend yield of 3.8%. Diageo’s dividend payout ratio is currently 46.42%.

Hedge Funds Weigh In On Diageo

A number of hedge funds and other institutional investors have recently modified their holdings of the business. CoreFirst Bank & Trust purchased a new stake in Diageo during the fourth quarter worth $25,000. Orion Capital Management LLC purchased a new stake in shares of Diageo during the 4th quarter worth $25,000. Eastern Bank lifted its stake in shares of Diageo by 107.8% during the 4th quarter. Eastern Bank now owns 241 shares of the company’s stock worth $31,000 after purchasing an additional 125 shares during the last quarter. BNP Paribas bought a new stake in Diageo during the fourth quarter valued at about $32,000. Finally, Measured Risk Portfolios Inc. purchased a new position in shares of Diageo in the 4th quarter worth approximately $32,000. 8.97% of the stock is currently owned by institutional investors.

Diageo Company Profile

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. The company offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavored malt beverages. It also provides Chinese, Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as flavored malt beverages, ready to drink, and non-alcoholic products.